HOUSTON, Feb. 17, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today it has signed a definitive agreement to acquire Control Systems International, Inc. (CSI).  Terms of the transaction, which is subject to further due diligence and various closing conditions, were not disclosed.

Founded in 1968, CSI is a leading supplier of innovative control and automation system solutions. These include FUEL-FACS+®, the company's Terminal Automation and Information Management System, and UCOS® (User Configurable Open System), a complete supervisory control and data acquisition system and software solution.  Headquartered in Lenexa, Kansas, with operations in Irvine, California, and London, England, CSI has approximately 150 employees.

"The addition of CSI enhances FMC's automation and controls technologies and supports our long-term strategy to expand our subsea production and processing systems," said Robert Potter, FMC's Executive Vice President of Energy Systems. "This acquisition also provides immediate benefits for our Measurement Solutions business to offer comprehensive fuel terminal and pipeline automation systems, resulting in significant value to our customers."

 

FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE^® Magazine as the World's Most Admired Oil and Gas Equipment, Service Company in 2010, the Company has approximately 14,200 employees and operates 27 production facilities in 16 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. For more information, visit www.fmctechnologies.com.

This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995.  The words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could" and similar expressions, including the negative thereof, are intended to identify forward-looking statements, which are generally not historical in nature.  These forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effect on the Company.  While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that any projected results or events will be achieved.   

All of the Company's forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections.  Such risks and uncertainties include, but are not limited to:  satisfaction of the conditions to the closing of the acquisition; costs and difficulties related to the integration of CSI's business and operations, including the potential benefits from the acquisition; and delays, costs and difficulties relating to the acquisition.  For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.  The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.  The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise. 

 

SOURCE  FMC Technologies, Inc.

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